Still his returns were largely event driven by the likes of Hunter..... if not he would have just an "ok" year, and not down. Its a small market relative, he knows all the players and each move they make..... someone wins big and someone loses big. This past year or couple years that has been quiet.... no big "news" Look if they were really short the curve they should be getting paid right...
Thanks Point is that they will not be making money like they had in the past until...... It was a small market where they through the volume and contacts knew what market positions of significance were. Until that set up again.. who knows next year, ten years from now... cant tell. They may make good returns trading though overall I think, they are the best, but days of "information" a monkey could bet on and nearly control the outcome are over....for now.
they also returned all client money and only trade arnold's and employee's money. this is much better than having to deal w/ the hassles of opm.